June 22, 2023 7:37am
Keep your eyes on taking profits on some of the winners
Pre-open Indication: 2 Positive, 1 Negative and 2 Sell into Strength
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday.
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8:00 a.m. edition
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what will happen behind the headlines today, not tomorrow or yesterday
Dow futures are DOWN -0.35% or (-120 points), S&P futures are DOWN -0.35% or (-15 points) and NASDAQ futures are DOWN -0.46% or (-69 points) early in the pre-open – so far
Stock futures were lower Thursday,
European markets fell as BOE raises rates a half-point (0.50 basis point),
Asia-Pacific markets were mixed.
Henry’omics:
We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …
Indexes were lower Wednesday as the Dow closed DOWN -102.35 points (-0.30%), the S&P closed DOWN -23.02 points (-0.52%) while the Nasdaq closed DOWN -165.10 points (-1.21%)
Wednesday’s decline came as Fed Chair Powell after more rate hikes are likely ahead to combat inflation, pouring cold water on investors who had hoped the central bank was close to the end of its tightening cycle. <CNBC>
Economic Data Docket: weekly jobless claims data, which is expected to show a total of 256,000, according to economists.
Wednesday (6/21) … RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector dives as uniQure NV (QURE) experiences mixed results for its study of a Huntington's disease treatment. Jerome spoke, “more rate hikes are likely ahead as the central bank tries to combat inflation.” … https://www.regmedinvestors.com/articles/13013
Ebb and flow:
Q2/23 – June: 1 Holiday, 5 negative and 9 positive closes
· May – 10 negative and 12 positive closes
· April ended - 1 holiday, 8 positive close and 11 negative closes
Q1/23 –
· March – ended with 10 positive and 13 negative closes
· February – 1 holiday, 2 vacation, 7 negative and 8 positive closes
· January – 2 holidays, 11 positive and 9 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Positive indication:
Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Generation Bio (GBIO) closed up +$0.30 with a positive +$0.19 or +3.55% aftermarket indication.
Verve Therapeutics (VERV) closed down -$0.70 with a positive +$0.57 or +3% aftermarket indication.
Negative Indication:
Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed down -$0.67 with a negative -$0.34 or -1.04% aftermarket indication.
Sell into Strength:
Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Vericel (VCEL) closed up +$0.91 with a positive +$0.43 or +1.24% pre-open indication
Ultragenyx (RARE) closed up +$2.02 after Tuesday’s +$1.85 with a positive +$0.40 or +0.77% aftermarket indication
The BOTTOM LINE:
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!
A Nasdaq-led market retreat is still a market retreat. Sideways-to-down action is not a great environment for making buys in the short run. <IBD>
Earnings are about to be ready for release – question are …RUNWAYS on track for further growth?
Still suffering with a walking stick everywhere (barely able to sit in a chair for long periods of time), “Had a “big” fight raking-out the loom and mulch, the rake won as I threw out my back – thank you Dr. Waller, chiropractor who more than popped me back into shape – somewhat after, being flat on my back for three (3) days taught me a lesson – another meet-up booked.”
I hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!
At ANY time, this week, be ready to take partial profits and exit losers.
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
All investments are subject to risks. Investors should consider investment objectives.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions securities referred to in this publication.
